Bremer Bank National Association Has $838,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Bremer Bank National Association lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 45.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,006 shares of the semiconductor manufacturer's stock after purchasing an additional 1,560 shares during the quarter. Bremer Bank National Association's holdings in Broadcom were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Orser Capital Management LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at about $808,000. Unigestion Holding SA increased its position in Broadcom by 45.5% during the first quarter. Unigestion Holding SA now owns 24,450 shares of the semiconductor manufacturer's stock worth $4,094,000 after buying an additional 7,649 shares during the last quarter. Rialto Wealth Management LLC raised its holdings in Broadcom by 76.4% during the first quarter. Rialto Wealth Management LLC now owns 194 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 84 shares in the last quarter. Smith Anglin Financial LLC lifted its position in shares of Broadcom by 9.8% in the first quarter. Smith Anglin Financial LLC now owns 4,650 shares of the semiconductor manufacturer's stock worth $779,000 after buying an additional 416 shares during the last quarter. Finally, Juncture Wealth Strategies LLC boosted its stake in shares of Broadcom by 7.5% during the 1st quarter. Juncture Wealth Strategies LLC now owns 4,058 shares of the semiconductor manufacturer's stock worth $679,000 after acquiring an additional 283 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 1.6%

AVGO traded up $4.23 during mid-day trading on Wednesday, reaching $261.08. The stock had a trading volume of 31,461,945 shares, compared to its average volume of 30,845,963. The firm's fifty day simple moving average is $198.47 and its two-hundred day simple moving average is $204.62. The stock has a market capitalization of $1.23 trillion, a P/E ratio of 212.95, a P/E/G ratio of 2.29 and a beta of 1.11. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $265.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom declared that its board has authorized a share buyback plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Barclays lowered their price target on Broadcom from $260.00 to $215.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley boosted their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. KeyCorp raised their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $246.00.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the company's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at approximately $95,564,585.40. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares of the company's stock, valued at approximately $7,045,847,733.60. This represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock valued at $131,249,694 over the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.